In an influential paper Mankiw, Romer, and Weil (1992) argue that the evidence on the international disparity in per-capita income levels and growth rates is consistent with a standard Solow model, once it has been augmented to include human capital as an accumulable factor. In a study on...

In this paper we integrate Schumpeterian endogenous growth into a general equilibrium framework. By explicitely modelling the innovation and technology adoption process we are able to match some stylized economic facts such as entry rates and survival times of firms in the U.S. economy or the...

In neoclassical theory, knowledge generates increasing returns-and therefore growth-because it is a public good that can be costlessly reused once created. In fact, however, much knowledge in the economy is actually tacit and not easily transmitted-and thus not an obvious source of increasing...

This paper analyzes the link between natural resources abundance, the quality of learning institutions and retardation in technology adoption. We offer a model in which human capital is technology specific and that learning to master the technology is costly. Market failure in the human capital...

This work presents the evolutionary growth theory, which studies the drivers and patterns of technological change and production together with the (imperfect) mechanisms of coordination among a multitude of firms. This requires to studies economies as complex evolving systems, i.e. as ecologies...

A consensus in the growth literature is that scale effects of R&D are non-existent across mature industrialized economies. However, the scrutiny across emerging economies is lacklustre at best. The empirical studies of scale effects also leave the issues of unbalanced regression (non-standard...

Economists have long debated the best way to explain the sources of productivity growth. Neoclassical theory and 'new growth' theory both regard investment - broadly defined to include purchases of tangible assets, human capital expenditures, and research and development efforts - as a critical...

In an influential paper Mankiw, Romer, and Weil (1992) argue that the evidence on the international disparity in levels of per capita income and rates of growth is consistent with a standard Solow model, once it has been augmented to include human capital as an accumulable factor. In a study on...

Powerful technological platforms — artificial intelligence, gene editing, robotics — are driving a new wave of global innovation, with China and the United States emerging as the “G2” in these and other areas of technology. The United States is ahead overall, but its technology...